The firm that audits a company’s financial statements is very important. Audited statements are used by shareholders, lenders, and other interested parties to make decisions about the company and its future. When companies change auditors, it can signal a few different things. There may be legitimate business reasons for making …
An expert witness can provide services in litigation as either a consultant or a testifying expert. Tracy explains the difference, and talks about being very careful as a consultant, in the event that you are later required to provide testimony.
Have you ever thought about the fact that a particular industry in which a company operates creates risk factors for fraud? We call these industry red flags, and Tracy discusses some of the more common ones in this video, including: Performance substantially out of line with competitors (either much better …
In this video, Tracy Coenen briefly defines and audit and how many people are being audited by the IRS. (Hint: A very low number of people are being audited, and people with higher incomes are much more likely to be audited. Watch the video to find out the numbers.)
Nearly all of my work is done under fixed fee arrangements. My client and I determine the scope of a project (what documents will be used, what analysis will be done, what time period is covered, etc.) and I quote them a fixed fee for my analysis and expert report. …
How do you investigate fraud in a cash business? It is difficult because cash leaves no paper trail. But Tracy Coenen has some techniques she uses to try to uncover unreported cash sales. She gives examples including restaurants and laundromats. Tracy mentions some of the things she analyzes like credit …
Performing analytical review on the financial statements of a company is an important part in the fraud detection process. It can help detect manipulation of the numbers, as we are looking at account balances and their relationships to one another. How have account balances changed from period to period? How …
How do you start a financial investigation? What would you look at first when analyzing a business? Tracy Coenen talks about some of the important things she would evaluate when starting a case with financial statements and income tax returns.
Tracy talks about calculating damages for wage losses. These situations may include wrongful termination, wrongful death, or time lost from work due to an accident. She gives a helpful list of the types of damages that might be included.
In this video, Tracy Coenen talks about the securities fraud cases that might need the assistance of a forensic accountant.
